Congress returns next week, but to do what? Put aside any fantasies about serious work on the entitlement, tax, regulatory, immigration, or education reforms that would have a significant impact on both the near-term and long-run pace of economic growth. What more modest initiatives could the Congress undertake?
As summer winds down and the nation heads towards the holiday weekend, agencies found time to add more than $2.2 billion in regulatory costs and 90,000 hours of paperwork. A Dodd-Frank rulemaking accounted for the vast majority of the week’s regulatory burdens.
Recent economic indicators and data have pointed to a slow but steady recovery.
On Tuesday, the Office of the Inspector General (OIG) released an overview of sixty contracts involved in the development and operation of the Federal Health Insurance Marketplace, which began with spectacular failure last fall.
The EPA’s Renewable Fuel Standard (RFS) program is in shambles, creating uncertainty in the marketplace for producers and blenders, complicating compliance schedules, and opening the possibility for blend levels that can damage older vehicles.
Just about every summer, the Congressional Budget Office (CBO) updates its forecast for the economy and its projections for taxes, spending, the deficit, and the debt for next ten years.
Douglas Holtz-Eakin on Fox Business News Discussing New CBO Report (August 27, 2014)
Based on the American Action Forum’s (AAF) analysis of all final rules issued in FY 2013 that quantified costs (310) and benefits (18), annualized costs were $7.2 billion.
A key piece of economic news was yesterday’s Case-Shiller Home Price Indices which showed a nationwide deceleration in the rate of home price appreciation. The national average is now rising at a rate of 6.2 percent over the past 12 months. The release generated some hand-wringing about the possibility that the housing recovery might stall, something that has clearly happened in Phoenix and other metropolitan areas.
Much has been said about the Comcast-Time Warner Cable (TWC) transaction, but not enough time or column inches have focused on the real market of interest, the innovative broadband ecosystem.